Carmanah announces today that it has completed the previously announced
(November 15, 2012) transaction to acquire the assets of Spot Devices,
Inc., (“Spot Devices”). Spot Devices is a market leader in the traffic
signaling industry and, together with Cirrus Systems, LLC, (“Cirrus”) a
related company, an innovator of System Infrastructure Management
Application ("SIMA") technology. Included in the transaction is a
license agreement for the exclusive use of SIMA for public roadway
applications.

The acquisition of Spot Devices business complements and expands
Carmanah’ s portfolio of traffic signaling products with a full range of
Rectangular Rapid Flashing Beacons (“RRFBs”) and school zone systems.
Features of the expanded portfolio include audible push buttons, passive
detection, and a selection of products available in both AC- and
solar-powered models.

The Cirrus SIMA technology will expand Carmanah’s offerings by providing
remote cloud based network management capability which enables customers
to monitor and control traffic systems from a central location. The Spot
acquisition will also grow Carmanah’ s pipeline for AC and solar-powered
products and position Carmanah as the market share leader in the
crosswalk and school zone traffic signaling space. The acquisition
allows Carmanah to consolidate top features and technologies of both
portfolios while reducing operational costs and simplifying solutions
for the customer.

According to Bruce Cousins, Carmanah CEO, the acquisition is well-timed
and relevant to the industry, “We believe that this transaction and
access to remote-management technology will become a meaningful source
of growth for our business in the future. The combined product portfolio
and remote-monitoring platform address a market need that we can now
answer and positions Carmanah as a market leader in this category.”

For Spot Devices customers, Spot products will be continued as
“Carmanah” branded products, available on www.carmanah.com/traffic.
Effective immediately, all inquiries directed to Spot Devices should be
forwarded to info@carmanah.com.

About Carmanah Technologies Corporation

As one of the most trusted names in solar technology, Carmanah has
earned a reputation for delivering strong and effective products for
transportation applications worldwide. Industry proven to perform
reliably in some of the world's harshest environments, Carmanah solar
LED lights and solar power systems provide a durable, dependable and
cost effective energy alternative. Carmanah is a publicly traded
company, with common shares listed on the Toronto Stock Exchange under
the symbol "CMH”. For more information, visit carmanah.com.

About Cirrus Systems, LLC

Cirrus Systems helps customers achieve their productivity and
performance goals by connecting devices, data and people in the cloud –
generating enterprise-wide management capabilities and creating value
through improved decision making. Building on a proven platform that
employs standards-based protocols, Cirrus Systems designs, builds and
scales an array of systems providing businesses with vital information
that is on time, and on demand. Cirrus Systems, LLC is a private company
headquartered in Sparks, Nevada. For more information, visit cirrussystemsllc.com.

Carmanah Technologies Corporation

“Roland Sartorius”

Roland Sartorius, Chief Financial Officer

For further information:

This news release contains “forward-looking statements” or
“forward-looking information” within the meaning of applicable
securities laws (collectively, “forward-looking statements”).
Forward-looking statements are generally identifiable by use of the
words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,”
“budgets,” “could,” “estimates,” “expects,” “forecasts,” “projects” and
similar expressions, and the negative of such expressions.
Forward-looking statements in this news release include statements about
the definitive agreement to acquire assets of Spot Devices, including a
license agreement for the exclusive use of SIMA for all Pedestrian
Traffic Applications; the traffic signaling market position of Carmanah
upon completion of the acquisition; the scope and potential pipeline of
AC and solar-powered signaling products; the value of remote management;
the SIMA platform providing future growth of Carmanah’ s business;
Carmanah’ s strategy, future operations, prospects and the plans of
management; extending existing product lines through internal
development efforts, strategic business relationships as well as focused
acquisitions.

With respect to the forward-looking statements contained in this news
release, Carmanah has made numerous assumptions regarding, among other
things, that Carmanah will be able to close on the asset acquisition and
licensing terms contemplated in the definitive agreement with Spot
Devices; and Carmanah’s market position and future prospects following
completion of the transactions contemplated in the definitive agreement
with Spot Devices. While Carmanah considers these assumptions to be
reasonable, these assumptions are inherently subject to significant
business, economic, competitive, market and social uncertainties and
contingencies.

Additionally, there are known and unknown risk factors which could
cause Carmanah’ s actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements
contained herein. Known risk factors include, among others: the Spot
Devices assets may not provide benefits to Carmanah’ s business as
currently anticipated; the installation of Spot Devices assets may not
be completed in the timeframe currently contemplated; a license
agreement for the exclusive use of SIMA for all Pedestrian Traffic
Application may not be commercially beneficial to Carmanah as currently
anticipated, or at all; Carmanah’ s market position in the traffic
signaling segment may not be augmented as currently anticipated upon the
acquisition of the Spot Devices assets and the SIMA licensing agreement;
Carmanah may not realize any significant pipeline of AC and
solar-powered signaling products; remote management capability may not
be unique in the industry and may not be beneficial to Carmanah’ s
business going forward; access to the SIMA platform may not provide any
future growth to Carmanah’ s business; general risks related to the
competitive environment; competition with other energy sources;
technological changes; anticipated adoption rates for traffic signaling
products and remote monitoring capabilities; ability to manage expansion
effectively; foreign exchange; reliance on third party manufacturers;
reliance on outside agents and distributors; reliance on key employees;
intellectual property risks; environmental and regulatory compliance;
government contracts and subsidies; product quality and reliability and
warranty liability risk; downturn in economic and market conditions;
liquidity and capital requirements; litigation risk; potential
reorganization of operations or product offerings; geopolitical and
other global or local events; there can be no assurances that the
Company can increase or maintain current top line revenue; there can be
no assurances that the Company will achieve additional product sales;
and there can be no assurances the Company can extend existing product
lines through internal development efforts, strategic business
relationships and focused acquisitions.

A more complete discussion of the risks and uncertainties facing
Carmanah appears in Carmanah’ s most recently filed Annual Information
Form, Annual MD&A, and other continuous disclosure filings which are
available on SEDAR at www.sedar.com
and on the Company’s website at Carmanah disclaims any obligation to
revise or update any such forward-looking statements or to publicly
announce the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or
developments, except as required by law.